Textile company owner charged with 2 counts of money laundering involving RM300,000


KUALA LUMPUR: A textile company owner was charged at the Sessions Court today with two counts of money laundering involving RM300,000 in his company's account, last year.

M. Kumaraguru, 46, claimed trial to the offences before judge Hasbullah Adam today.

The accused, who was suffering from hemifacial spasm, was alleged to have accepted proceeds from illegal activities involving RM100,000 and RM200,000 which were deposited into the bank account of Mentari Maju Textiles.

The offences were allegedly committed at RHB Islamic Bank Bhd branch at the 1st floor of UOA Centre, Jalan Pinang, here, on Jan 1, 2017 and Feb 23, the same year.

Kumaraguru's charges under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, carries a jail term of up to 15 years and fine not less than five times the value of the proceeds, or RM5 million, if convicted.

In pleading for minimum bail, counsel Mohd Shukri Ahmad Mansor who represented the accused said his client needed to undergo further treatment at the hospital due to his condition.

Earlier, deputy public prosecutor Nur Ashikin Mokhtar proposed an amount of RM200,000 if the court were to allow bail.

"This is a non-bailable offence and if bail is to be allowed upon the court's descretion, an amount of RM200,000 should be imposed due to the seriousness of the offence and amount involved," she said.

Hasbullah allowed RM30,000 bail with one surety for both charges and ordered the accused to surrender his passport to the court until the disposal of the case.

The court fixed April 23 for mention. © New Straits Times Press (M) Bhd